mrcb_southport-site

MRCB prepares for second Gold Coast project after acquiring southport site

Market Insights
2 months ago
2 minutes

Malaysian conglomerate MRCB has secured a second development site on the Gold Coast, with the company laying plans to deliver a new project centred around lifestyle and amenities on the back of the resounding sales of its $500 million 26 Vista project in Surfers Paradise.

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The development is located close to Broadwater

MRCB International, a wholly owned subsidiary of leading publicly listed urban property and infrastructure developer Malaysian Resources Corporation Berhad (MRCB), has secured the site at 20 Queen Street in Southport, which was marketed by Ray White Commercial Gold Coast’s Brad Merkur.

The company is firming up plans for a new development that will cater to the demand for high quality apartments in the Gold Coast. The 1,743sqm site, which is currently occupied by the Sundale Motel, is strategically located directly across from the Broadwater Parklands light rail station and is within easy walking distance from Broadwater, Australia Fair, local Woolworths supermarket, shops and restaurants.

Designed to meet the needs of an underrepresented market, MRCB’s Southport project will offer premium living in a highly sought-after location on the Gold Coast. MRCB International has enlisted Plus Architecture to create a design that will take advantage of expansive Broadwater views and deliver a collection of apartments largely comprising one and two-bedroom.

Residents will also have access to a range of resort-style amenities including a recreation deck, pool, barbecue areas, sauna and gymnasium.

“The Southport development is aimed at capitalising on the prime location, close to Broadwater Parklands with breathtaking waterfront views and easy access to the light rail network,” said Kevin Zhang, sales and marketing director at MRCB International.

“The north-facing apartments will have unobstructed views of Broadwater, while residents will also enjoy easy access to all the popular dining, entertainment and shopping precincts of the central Gold Coast right at their doorstep, with access to the light rail.”

MRCB International has been buoyed by strong sales of its 26 Vista, a 51-level development comprising six three-storey townhouses and 275 apartments in the heart of Surfers Paradise. The 26 Vista development was one of the fastest-selling projects on the Gold Coast in the past 12 months.Remaining unsold apartments at 26 Vista currently start around $1.5 million, but most of the stock at Southport is expected to be well under this price point, catering to a wider audience of buyers looking for a central Gold Coast lifestyle.

This project not only aims to attract diverse buyers but also addresses the pressing issue of housing shortage in the region.

MRCB expects to officially launch its new Southport project in early 2025.